New York and New Jersey lost $140 billion in income in just one decade.
Call it moving van economics — and New York and New Jersey are the losers.
A new analysis from my organization, Unleash Prosperity, of the latest census and income tax data finds these two states have lost more residents over the past decade than any other state not named California.
These are giant population losses from two of America’s leading industrial and financial centers throughout the 20th century.
These New York and New Jersey refugees have mostly relocated to the new powerhouse states like Florida, Texas and Tennessee. These moving vans explains why the Southeast is now, for the first time ever, the economically dominant region in the country.
Even more problematic for New York and New Jersey is that the movers are taking a lot of personal income and purchasing power with them. From 2012 to 2022, New York has lost $111 billion in income while Jersey is down by more than $31 billion.
Because the income is lost forever — except for the rare cases when the exiles move back — these income losses accumulate year after year.
Unleash ProsperityWhy are so many people leaving the Northeast?
A myriad of reasons — crime, cost of living, better job opportunities, warmer weather and, yes, to save money on taxes.
New York, New Jersey and California are the three biggest losers in the interstate migration sweepstakes, and they just happen to be the states with the highest state-local income tax add-ons. The big winner states like Florida and Texas have no income tax at all. ...
They are not only losing population and income to Florida and Texas, but I think Florida and Texas are also gaining businesses. The three loser states are plagued by government greed that imposes high taxes on both businesses and workers. Add the fact that Florida and Texas have milder winter weather, and it makes the move more comfortable.
DailyWire: Harmeet K. Dhillon, founder of the Dhillon Law Group Inc., blasted Democrats’ claims of race-based voter suppression while pointing out the real threat to U.S. election integrity: the federalization of election law. Dhillon and her law firm are representing The Daily Wire in its legal challenge against the Biden administration’s order mandating that large employers either vaccinate or mask and COVID-19 test all their employees. The Supreme Court stayed the order on January 13 in a major blow to the government. Roughly two weeks later, the Occupational Safety and Health Administration withdrew the rule to reassess its implementation. Dhillon is set to appear on “The Ben Shapiro: Sunday Special” episode airing Sunday, January 30. During the episode, Dhillon and host Ben Shapiro cover topics from the Supreme Court’s recent decision to stay President Joe Biden’s vaccine order for large employers and conservatives’ reluctance to engage in “lawfare” with Democrats. When th...
NY Times: The new, conservative South Korean government took a tougher line on North Korea on Wednesday, warning that it would speak out against human rights abuses in the Communist North and that it would not expand economic ties unless the North abandoned its nuclear weapons programs. North Korea angrily reacted on Thursday by expelling 11 South Korean officials based in a joint industrial complex in the North Korean border town of Kaesong. The new South Korean policy, outlined by the new president, Lee Myung-bak , means at least a temporary reduction in generous South Korean economic aid at a dire time for the North, with cuts in humanitarian aid expected to follow. In recent weeks, relief experts have warned that food shortages in the North will worsen because of high global commodity prices, flood damage and aid donors’ reluctance in light of the country’s nuclear wrangling with the United States. “The speed and scope of, as well as ways to push for any development in, inter-Ko...
A global war on insurgency Roxanna Tiron: The anti-insurgency tactics the U.S. military is learning in Iraq could be applied globally, which would turn the war on terrorism into a “war on insurgency,” said Lt. Gen. William Boykin, deputy undersecretary of defense for intelligence and war fighting support. “My position is that this is a global insurgency,” said Boykin during a forum on special operations and low intensity conflict. In Iraq and other trouble spots, the United States has to come to grips with the nature of the enemy, he explained. “It is a web of networks that come together in a coalition of convenience. There are links to drug trafficking, money laundering and the like,” he said. An insurgency is a political-military activity, in which the political aspects are much more ...
Comments
Post a Comment